The second largest producers of Ciprofloxacin and Ranitidine in India, Marksans Pharma Ltd, has entered into a definitive agreement to acquire 100 per cent of the share capital of Hale Group Ltd, the parent company of Bell, Sons & Co (Druggists) Ltd, through its UK-based subsidiary, Marksans Pharma (UK) Ltd.
Through this acquisition, Marksans Pharma will have access to 34 product licenses of Bell, located near Liverpool, in the UK, whose products are said to enjoy strong brand loyally.
Marksans says Bell, a zero debt company, is an established and highly reputed manufacturer and marketer of over the counter pharmaceuticals products. It manufactures licensed products as own branded products and for some of its customers that include retailers in the OTC sector, pharmacies, chemists, wholesalers and cash and carry outlets.
Bell's products are available as non-sterile liquids, ointments and powders, which are distributed through a vast distribution network throughout the UK and overseas. Its exports revenue contributes one third of its total sales.
With the acquisition Marksans' global revenues from the regulated market is expected to cross 50 per cent of its total revenue.
Bell is a zero debt company.
"The acquisition is in line with the company's global strategy,'' says Mark Saldanha, managing director of Marksans. ''The company plans to fortify its presence in the highly regulated market space. With this acquisition the company now has presence in two major countries, the UK and Australia for which it holds manufacturing approvals. Last year, we acquired a majority stake in Nova Pharmaceuticals, an Australian based company. These acquisitions will fuel the growth of Marksans global strategy."